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8/3/2012 6:27AM

Global Selloff Extends to Asian Markets

Asian markets fell after European Central Bank President Mario Draghi backed off from taking drastic measures in the near term to rescue the troubled euro zone. The WSJ's Mariko Sanchanta talks to Hong Kong Digital Editor Jake Lee.

This transcript has been automatically generated and may not be 100% accurate.

... the ... in currencies fell across Asia today ... as investors were disappointed with the European Central Bank's lack of action ... welcome to Asia Today Ahmadi the Sanchanta ... joining me is Jake Lee now to discuss the market's ... take care we took a little bit about why the ECB disappointed investors show low last week he couldn't have gone to signal ... the day ahead of the ECB said he would do anything to save the euro marks of course like that it's scenes in it that indicated he's going again by the Olmsted days you down ... they just today we just didn't get the same sort of message ... he was given this any specifics on the few things he did say it sounded like the government sticking to the two countries will have to come in ... and help before the ECB which has the full walk out ... I guess since my state for the market price they go hard on he's banking on the go back ... to them that increases Risk of more Proms in Europe ... but the risk of the table getting out of stocks from giving out these risky currencies ... Asian stocks are primarily doubt that led by the Nikkei but European stocks actually this morning ... a slightly up bouncing high at ... a yield play just as the dead cat bounce no strong reason ... looking ahead because of the U S payrolls number is still wanna bake statistic that received msg console from these markets ... people what is the case but the fireworks from from the U S economy but anything we see from that will tell us what the feds can indeed in coming days in coming weeks as a crucial moment people looking at it ... so that they ... got back this week let's take a look at the China market in particular there was a lot of activity ... and outward activity actually and you have a ton of regulators trying to talk about ... it was a little bit about what happens then what spree daughter in China stocks are languishing in about a three notch here the two ... hands ... in the reggae is really getting quite concerned about its unit that they're thinking does this signal ... so the lack of confidence in the markets as ... the pinging the pina increase never trade is saying look valuations are quite cheap is no need for panic selling unable to eat in Kabul that measures ... the Chinese book heroes old but today is if they paid out to cut ... the price of trading that of course that does that to shed transaction ... people to take another measures to use more in taxes coming into the market especially for investors ... none of these things to really kick start the market yet but it does sound like every good is getting serious about China ... charming more at the China this market which which is really quite unusual ... content the rest of Asia which is down but not quite so much is China ... I think the regulators are stepping in now and in the Chinese market has been soft ... most of the year to ... what is behind the tiny ... well Thursday is going you Chief out late last year they pointed out a form of Banca has as head of the radiation ... he change just because the sums up like a regulation ... of more to a whole range of other things includes didn't I get with this the price manipulation ... try make the market that there are so comfy just tends to refinance Beatson haven't had time to the things ... I think is generally is Europe gets what Some was in China of course to court openness and keeps pulling ... passes just come to us at online in the sand with a bill they need to do something ... pops